Automotive Collision Repair- Description
The restorative and replacement processes carried out on automobiles damaged in an accident are referred to as automotive collision repair. Including bumpers, glass windows, and car doors, it entails denting, painting, mending, restoring, replacing, and refinishing of structural or cosmetic components of the autos. Paints, scratch-resistant coatings, spare components, and other refinishing products for restoring dents and scratches are frequently utilised in car accident repair.
It also covers a variety of consumable goods like glue and engine oil. Repair supplies, crash components, mechanical components, and tools are some examples of spare parts used in repairs. For passenger, light, and large commercial vehicles, the repairs are often made at independent, accredited garages.
Global Automotive Collision Repair Market- Overview
The Global Automotive Collision Repair Market is presently worth USD 185.2 billion and is poised to amplify at a CAGR of 2.39% over 2022-2030, thereby amassing a valuation of USD 212.6 billion by end of the assessment timeline.
The advent of innovative materials like UV paint and carbon aluminium as well as the existence of several vehicle repair facilities focusing on productivity and efficiency are projected to increase demand for auto collision repair services. The automotive collision repair market size from 2019 to 2026 will be favoured by the large number of vehicle restoration businesses that distribute branded auto parts and materials through their own effective distribution channels.
Automotive collision repair market share will be driven by rising consumer demand to improve service quality and profitability in various workshops. Additionally, rising disposable income in some emerging economies, including Brazil, Mexico, China, India, and others, is promoting industry expansion for the automobile collision market over the anticipated time frame.
This can be attributable to the availability of certified expert technicians and the expanding dealership network. Products' high quality and warranty services are the two main factors that influence the automobile collision repair market share internationally. Growing new car technical complexity supports the knowledge and resources needed to handle repairs, expanding the market reach of dealer-owned shops.
Global Automotive Collision Repair Market- Key trends
High grade surface finishing needs will fuel the need for paints and coatings
The demand for paints and coatings is anticipated to account for 20% of the market for automobile collision repair. Modest car dents and scratch marks caused by increasing urban traffic congestion will increase the need for minor paint touch-ups. The use of automotive refinish coatings in body shops and repair facilities has many advantages, including superior corrosion resistance and surface protection. Opportunities for expansion in the paints and coatings industry will arise from growing customer preferences to restore automobiles so that they appear authentic and aesthetically pleasing. Refinish coatings are being distributed to the auto body repair industry through channels and standards established by businesses.
Rising ownership rates will be the primary driver of passenger car growth
The passenger car segment is anticipated to grow at a rate of above 2.5%. Increasing passenger car accidents as a result of increased road traffic density is one of the main factors influencing market statistics. Additionally, improved access to auto servicing and repair facilities offering top-notch restoration, refurbishing, and maintenance will increase market penetration. Population growth, rising income levels, and demographic changes will all contribute to an increase in car sales and market expansion.
Global Automotive Collision Repair Market- Segmental assessment
By Product
Paints and coatings
Adhesive and sealants
Abrasives
Finishing compounds
Others
By vehicle
RCV
LCV
HCV
Two wheelers
Others
By end-user
New OEM
Aftermarket
Recycled
Remanufactured
Others
By auto body shops
Dealer owned shops
Independent repair shops
Others
Global Automotive Collision Repair Market- Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030, The region now needs more structured auto body shops as a result of infrastructure development in many different countries and an increase in accidents as a result of more automobiles on the road.
Global Automotive Collision Repair Market- Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are 3M Company, Automotive Technology Products LLC, Caliber Collision, Continental AG, Denso Corporation, DuPont de Nemours Inc., Eastman Chemical Company, Faurecia SE, Honeywell International Inc., IAC Group, Magna International Inc., Robert Bosch GmbH and Tenneco Inc.
Report scope
Global Automotive Collision Repair Market: Historical Years- 2018-2021
Global Automotive Collision Repair Market: Forecast Years- 2022-2030
Global Automotive Collision Repair Market 2022- USD 185.2 Billion
Global Automotive Collision Repair Market 2030- USD 212.6 Billion
Global Automotive Collision Repair Market CAGR- 2.39%
Key segments covered-
1) By Battery type (paints and coatings, adhesives and sealants, abrasives, finishing compounds, and others).
2) By end-user (new OEM, aftermarket, recycled, remanufactured, and others).
3) By vehicle (PCV, LCV, HCV, Two wheelers, and others).
4) By auto body shops (dealer owned shops, independent repair shops, and others).
Major regions and countries reported-
1) North America (U.S., Canada, and Mexico)
2) South America (Brazil, Argentina, and Colombia)
3) Europe (Germany, U.K., France, Italy, Spain, and Russia)
4) Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
5) Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Top players profiled- 3M Company, Automotive Technology Products LLC, Caliber Collision, Continental AG, Denso Corporation, DuPont de Nemours Inc., Eastman Chemical Company, Faurecia SE, Honeywell International Inc., IAC Group, Magna International Inc., Robert Bosch GmbH and Tenneco Inc.
